NELFUND to launch portal connecting loan beneficiaries with employers
The Nigerian Education Loan Fund (NELFUND) has announced its intentions to launch a centralized job portal by 2026, which aims to help student loan beneficiaries secure employment opportunities both within Nigeria and internationally.
This initiative is a key part of NELFUND’s strategy to enhance the effectiveness of its student loan scheme and promote financial independence among graduates.
During a media event in Abuja to commemorate the first anniversary of the loan program, NELFUND Managing Director Akintunde Sawyerr explained the objectives of the portal.
“We don’t just give a loan and leave students on their own. This job portal is our way of supporting their journey towards economic stability,” he remarked.
Sawyerr acknowledged that while NELFUND does not guarantee job placements, the portal will compile job listings from a wide range of sectors, including both public and private industries, as well as international companies looking to hire Nigerian graduates.
He also elaborated on the loan repayment process: “If you don’t have a job, you don’t pay. And when you eventually get a job, your repayment starts fresh.” Once beneficiaries are employed, 10 percent of their monthly income will be automatically deducted by their employer and remitted to NELFUND, following a verification process through the employment register.
Source: PUNCH
